FKLI Commentary on 08/06/09

FKLI futures June contract surge 8.5 point higher to close at 1076.5 as compare to previous trading session with total 5,499 lots traded in the market. FKLI continue to surge up mainly due to Dow Jones electronic trading and regional indices continue search new high during trading session.

Technically, FKLI searched for new high during the trading session after supported around 1050 support regions. Based on our technical knowledge, our opinion still suggest that FKLI would trade lower in the coming trading session provided resistance level around 1081 and 1093 were not violated. Traders were advice to hold short position in the coming trading session while support levels were seen at 1050 and 1033.5 regions.

FCPO Commentary on 08/06/09

FCPO 3rd month August Futures contract fall RM49 lower to close at RM2520 levels as compare to previous trading session with 10,734 lots traded in the market. CPO price was traded lower as soybean oil and crude oil electronic trading plunge during trading session.

Technically, CPO price manage to rebound 61.8% Fibonacci retrace levels at RM2600 regions. Based on our technical studies, our opinion suggest that CPO price would continue to trade lower in the coming trading session provided resistance levels at RM2610 and RM2650 must not be violated. Traders were suggest to hold short position in the coming trading session while be cautious around support levels at RM2511 and RM2484 regions.